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5 Things to Know Today: BoC Hike Odds Near 80%, Oil Tops US$100, Loonie Hits 5-Week High

  Canadian Money Brief  |  Saturday, October 24, 2026 The Bank of Canada is expected to raise rates on Wednesday, oil is back above US$100 and stocks slipped on AI worries. Here are the five things to know this Saturday, and what each one means for your wallet. 1 The Bank of Canada is widely expected to hike on Wednesday Markets are putting roughly an 80% chance on a quarter-point increase at the Bank of Canada’s Oct. 28 decision, which would lift the policy rate from 2.25% to 2.50%. A majority of economists polled by Reuters also expect a second hike by the end of March. The shift followed hawkish comments from Governor Tiff Macklem about a higher inflation outlook driven by oil. What it means for you Every 0.25-point increase adds about $250 a year (roughly $21 a month) for each $100,000 of prime-linked debt, such as a variable-rate mortgage or HELOC. Fixed-rate holders are not hit directly, but renewals are being priced off higher bond yields. Savers may see HISA and...
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New Federal Commission Could Uncover Hundreds of Miscarriages of Justice

 


A newly established independent commission, set up by the federal government to review potential wrongful convictions, is expected to receive a surge of applications from inmates who may have been imprisoned for crimes they did not commit. Early indications suggest the body could see hundreds of cases, reflecting a hidden crisis within the justice system.

Senator Kim Pate, a well‐known advocate for the wrongfully convicted, noted that similar review bodies abroad have discovered that the number of wrongful convictions is far higher than initially believed. “The degree of wrongful convictions certainly was much more significant than they knew,” she remarked, underscoring the urgent need for a systematic reexamination of past cases .

Tasked with scrutinizing past convictions for fresh evidence and legal errors, the commission will work independently from both law enforcement and the courts. Its mandate is to identify cases where new and significant information was either overlooked or has since come to light—information that could potentially alter verdicts or open the door for retrials. Officials believe that a proactive approach is essential not only to correct individual miscarriages of justice but also to pinpoint systemic issues that may have led to widespread wrongful convictions.

If the commission’s investigations reveal compelling evidence of errors, cases may be referred back to the courts for a fresh appeal or a new trial. Such actions could free individuals who have spent years behind bars for crimes they did not commit, restoring public confidence in the criminal justice system. The move mirrors successful initiatives in other countries that have unearthed a higher incidence of wrongful convictions than previously estimated.

With the commission gearing up for its first round of case reviews, legal experts and advocacy groups are watching closely. Many hope that this new federal body will serve as a vital corrective mechanism, ensuring that justice is not only done but seen to be done for all citizens.

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